October 2014 Income Report: Location Independant Entrepreneur

This month has been a little wild, literally. I spent half of it in Borneo with Larissa, mostly without internet access or electricity, but before that we made sure to finish up our second Udemy course together, rewrite all of the descriptions for my dropshipping stores, and put the business in maintenance mode as we knew we would be gone.

Here is my income report for October 2014, which is still uncomfortable to share but so many people have thanked me for sharing as it really helps people who are figuring out how to become location independent and make money online.

Udemy Income:

About two months ago Larissa and I launched our first udemy course together, Small Talk. We made it in our spare time over weekends and spent the last two months polishing it up and it turned out to be quite a good course and another stream of income, not a ton of money, but last month we made $132.67 each from the course.

A few days ago, we published our second course, Relationship Ready. This time around our audio and video quality is much better, and our videos are shorter and straight to the point. We really think this second course is going to do well, and will benefit anyone who is single and looking to get into a great relationship. We also think having two courses will help boost the other course and we're looking forward to see what happens with sales this month.

If any of you wanted access to either one of our courses, either to see how the course is made, or because you want the information in them, I'm happy to give you guys a blog reader discount for only $10 instead of the full normal price.

Book Sales: I never thought writing books would give me as much joy as it has, but everyday I get nice messages and emails from readers telling me how big of an impact the book make on their lives. The first book, 12 Weeks in Thailand has now inspired a ton of people to quit their jobs, move out to Thailand and live the good life on the cheap. Now the new book, Life Changes Quick is getting people to set big goals, get in shape, make money, and truly be happy.

More than the money I make from the book, I love having it in everyone's hands, which is why a big part of the profit from the book sales goes to supporting kickstarter campaigns, donorschoose.org and other non-profits.

Advertising income:

From my blogs and podcasts I make additional income for advertising, google adsense, and if you purchase something on my recommended resources page though my link. (Thanks to everyone who remembers to give me credit by the way)

I don't add them all up because most of them are random and scattered, but I make a couple hundred a month from them combined. Here's a few from this month.

Membership Course:

Aside from genuinely wanting everyone to do well and make money online, one huge incentive I have to get people to be successful with their dropshipping stores is so they have enough money to purchase Optimize Like a Boss. I don't advertise it much, but it's pretty well known in the private member forums of Anton's course that once you start making sales and enough profit from your dropshipping store, it just makes sense to spend your first $197 in profit on my course that gets you more sales and pays for itself in usually the first week.

The reason why I don't advertise or push it is because it only works if you already have a dropshipping store, especially one that already makes sales. I don't' really need to advertise it or sell it because once someone takes my recommendation and signs up for Anton's dropshipping course and it actually works and they start making money from it, almost everyone ends up buying OLAB as well because they figure if I live away so much free content and help, they really want to see what's inside my paid course. This month the profits from the course was $984.

Dropshipping income:

Even though I love taking on new projects, I still make the majority of my income through my dropshipping stores. I looked into getting in to Amazon FBA recently as i'm looking to expand my income and start something that Larissa can be 50/50 partners on, but I really didn't feel right about ordering $8,000 worth of products from China without knowing if it'll even sell. So instead, we've decided that as soon as we get back to Chiang Mai, we're going to start another dropshipping store together.

This month, I focused on my stores for the first half, but since we were mostly without internet theses past two weeks, it's just been coasting. But still I had a pretty decent month with $24,400 in sales.

After expenses I was left with about $3,640 in profit from this above store. With all of my various income sources combined, I was able to pay for my living expenses in Chiang Mai, the 3 week vacation in Borneo, but not much went into savings this month.

The good news is, it was a well needed break and I got to see some really cool wildlife with my girlfriend. We get back to Chiang Mai November 15th, and I plan on putting my head down and really getting to work that month to build another dropshipping store because life and traveling is getting expensive and my goal is still to spend way less than I bank every month so I can build up my savings account.

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